Pharma cos shares extend gain on BSE
Shares of multinational pharmaceutical companies on Wednesday extended gains on the BSE, cheering their parents’ move to hike stake in these subsidiaries.
By ET Bureau |
MUMBAI: Shares of multinational pharmaceutical companies on Wednesday extended gains on the BSE, cheering their parents��� move to hike stake in these subsidiaries.
Novartis and Pfizer shares were up on news their parents planned to increase stakes in these companies. The Novartis stock was trading at Rs 374.15, up 1.14%, while Pfizer was trading at Rs 694, up 1.25% at 3pm on Wednesday.
Aventis Pharma, the Indian subsidiary of Sanofi-Aventis, rose 4.71% to Rs975, on speculation its parent would also soon announce plans to increase its stake in the company.
Indifferent to these developments, Merck was trading flat at Rs342, while GlaxoSmithKline (GSK) was down 0.7% at Rs 1105.
Novartis and Pfizer shares were up on news their parents planned to increase stakes in these companies. The Novartis stock was trading at Rs 374.15, up 1.14%, while Pfizer was trading at Rs 694, up 1.25% at 3pm on Wednesday.
Aventis Pharma, the Indian subsidiary of Sanofi-Aventis, rose 4.71% to Rs975, on speculation its parent would also soon announce plans to increase its stake in the company.
Indifferent to these developments, Merck was trading flat at Rs342, while GlaxoSmithKline (GSK) was down 0.7% at Rs 1105.
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